https://www.taxtmi.com/highlights?id=89517 HC held that the 1% Extra Duty Deposit (EDD) constitutes a security deposit, not a customs duty under Section 2(15). The refund claim by the importer is valid and not time-barred. Relying on precedents from multiple High Courts, the court determined that withholding the EDD would result in unjust enrichment. The Appellant-Revenue is mandated to refund the entire deposited amount within 12 weeks, with statutory interest calculated from the re-deposit date until actual payment. The appeal was consequently dismissed, affirming the importer's right to recover the security deposit. en-us Wed, 18 Jun 2025 09:04:18 +0530 Wed, 18 Jun 2025 09:04:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=89517 HC held that the 1% Extra Duty Deposit (EDD) constitutes a security deposit, not a customs duty under Section 2(15). The refund claim by the importer is valid and not time-barred. Relying on precedents from multiple High Courts, the court determined that withholding the EDD would result in unjust enrichment. The Appellant-Revenue is mandated to refund the entire deposited amount within 12 weeks, with statutory interest calculated from the re-deposit date until actual payment. The appeal was consequently dismissed, affirming the importer's right to recover the security deposit. Highlights Customs Wed, 18 Jun 2025 09:04:18 +0530 https://www.taxtmi.com/highlights?id=89517